Tax Preparers, including many CPA’s do very little to reduce how much you’re paying in taxes. Your business needs a CPA that can help you with Tax Planning. Tax planning takes into account your personal and businesses financial situation in order to maximize tax breaks and minimize tax liabilities in a legal and efficient manner. #taxplanning #taxpreparation… Read More

As you likely know, you may no longer deduct directly related or associated business entertainment effective January 1, 2018. Common forms of directly related and associated entertainment that are no longer deductible include business meals with clients or prospects, golf, football games, and similar business-building activities. That’s the bad news. The good news is that… Read More

If you are starting, buying, or refinancing a business using retirement funds, you need to know that there is a way to do it and save your self a lot of money. EXAMPLE TAX STRATEGY: ROBS Plan Rollovers as Business Start-Ups (ROBS) are arrangements in which current or prospective business owners use their 401(k), IRA… Read More

Do you own a business? This one strategy saved my client over $3000 in Taxes and funded their children’s college fund. Tax Strategy: Hiring Children (and Grandparents) Sole-proprietors and spousal partnerships can pay children up to $12,000 without incurring any tax neither income nor payroll for legitimate services rendered to the business. S and C… Read More

If you are a Real Estate Investor, Cost Segregation can be a great strategy for reducing taxes. In this case, almost $53000 in Tax Deductions! Cost Segregation accelerates the depreciation of certain components of the property. Things like appliances or HVAC that need to be replaced sooner than standard depreciation, which is 27 years for… Read More

Like most successful realtors, brokers and investors, I am sure that you have a team of professionals that you prefer to work with. Loan officers, Escrow Officers, Insurance Agents, Home Inspectors, and Trades that you trust, get the job done and take care of your customers. That’s why you need a CPA that can do… Read More

I just saved my client $8,800 using this one Tax Strategy alone! The Tax Cut and Jobs Act had massive changes for businesses. Unfortunately, many are not aware of the tax savings it can provide. Here is a example. Example Tax Strategy: Section 199A Section 199A of the Internal Revenue Code provides many taxpayers a… Read More

The type of legal entity your business is can have a dramatic effect on your money. Different legal entity structures have different rules regarding deductions and self-employment taxes. Tax Strategy implemented: Schedule C to S-Corp As a sole-proprietor operating with an LLC we elected to be treated as an S-corporation for tax purposes. By moving… Read More

You may be one of the many business owners that use a tax preparer or CPA –and you are probably thinking they’ve got you covered, right?   Unfortunately, probably not! Tax preparation is NOT Tax Planning.   Tax preparation is after the fact and there is only so much you can do. Tax Planning analyzes… Read More

EXAMPLE TAX STRATEGY: ROBS Plan Rollovers as Business Start-Ups (ROBS) are arrangements in which current or prospective business owners use their 401(k), IRA or other retirement funds to pay for new business start-up costs, for business acquisition costs or to refinance an existing business. It allows you to use these proceeds to start a business… Read More